Is your bank broke?
- Thread starter 5-Dime NwK
- Start date
FDIC Baby!
Make sure all your bank accounts have less than 250,000K when shit fails.
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Make sure all your bank accounts have less than 250,000K when shit fails.
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You talked about buying contracts earlier, ever heard of MF Global? The guys who stole a ton of money from their customers who were trading metal contracts and then sent a lot of it to JP Morgan.
Look, we can pretend the balance sheets are good but anyone who reads history knows that paper money fails. Always.
Gold isn't to make money, it's to protect your wealth.
Earning 1% interest on that savings account while inflation is probably around 9%... Losing money.
Like I said, I don't personally give a shit if you believe what I'm saying.
I know that I'm right because history, math, and common sense are on my side.
Metals are highly manipulated market. The dollar is worthless and will soon be dropped as the world reserve currency. Then we will hit hyper inflation and the banks will close.
I also recommend guns, ammo and some food storage but hey, that's just me.
Look, we can pretend the balance sheets are good but anyone who reads history knows that paper money fails. Always.
Gold isn't to make money, it's to protect your wealth.
Earning 1% interest on that savings account while inflation is probably around 9%... Losing money.
Like I said, I don't personally give a shit if you believe what I'm saying.
I know that I'm right because history, math, and common sense are on my side.
Metals are highly manipulated market. The dollar is worthless and will soon be dropped as the world reserve currency. Then we will hit hyper inflation and the banks will close.
I also recommend guns, ammo and some food storage but hey, that's just me.
Also, the banks are sitting on $1.8 trillion in bailout money, that is correct. They won't loan it out because banks are aware that inflation will devalue their return on the loans they make. Therefore, they won't loan out the money. Therefore, the economy won't recover. There is only one play available in the Keynesian play book, print more money.
Or maybe this time really IS different... haha
Or maybe this time really IS different... haha
MF Global mostly dealt with farmers. They claimed the money "disappeared" but last I read they have tracked down almost all of it. No one really knows what happened. That's why they are still investigating it. MF Global wasn't a bank though. They were an investment firm like Goldman Sachs. MF Global and banks have nothing in common, other than people give money to them. So to talk about MF Global (the investment firm) in a topic about US Banks (who are backed by the Federal reserve), starts it off as you really don't know what you are talking about.
JPM has a fair amount of assets oversees and plays a major role in manipulating copper prices. Not sure what that has to do with anything, other than a stronger balance sheet. They aren't as prone to US economic hits as the other banks.
Inflation isn't 9%
Where do you even get this information from? Depreciation maybe, but inflation no.
Listen to Bernanke speak. Feds are keeping inflation at 2% for years to come. That's why precious metals have been getting slammed.
Well, so far nothing you have said is right.
Banks will close?
They can't close. I think you mean nationalization. We are far from that.
JPM has a fair amount of assets oversees and plays a major role in manipulating copper prices. Not sure what that has to do with anything, other than a stronger balance sheet. They aren't as prone to US economic hits as the other banks.
Inflation isn't 9%
Where do you even get this information from? Depreciation maybe, but inflation no.
Listen to Bernanke speak. Feds are keeping inflation at 2% for years to come. That's why precious metals have been getting slammed.
Well, so far nothing you have said is right.
Banks will close?
They can't close. I think you mean nationalization. We are far from that.
I HAVE A PORTFOLIO THAT'S BEEN MAKING ME MONEY FOR A FEW YEARS NOW.
EVEN AT THE ECONOMY'S WORSE, IT HAS PULLED IN OVER A GRAND AND CHANGE PER YEAR.
I FEEL LIKE I'M GAMBLING...CAUSE I LIKE THE MONEY IT MAKES...BUT AT THE SAME TIME IF THE ECONOMY FALLS.
I'M PRETTY SURE I'M FUCKED.
THE MEDIA AND ANALYSTS KEEP SAYING THE EYE OF THE STORM HAS PASSED. BUT I DONT BELIEVE THE MEDIA.
SOMETIMES I HATE MAKING MONEY DECISIONS.
EVEN AT THE ECONOMY'S WORSE, IT HAS PULLED IN OVER A GRAND AND CHANGE PER YEAR.
I FEEL LIKE I'M GAMBLING...CAUSE I LIKE THE MONEY IT MAKES...BUT AT THE SAME TIME IF THE ECONOMY FALLS.
I'M PRETTY SURE I'M FUCKED.
THE MEDIA AND ANALYSTS KEEP SAYING THE EYE OF THE STORM HAS PASSED. BUT I DONT BELIEVE THE MEDIA.
SOMETIMES I HATE MAKING MONEY DECISIONS.
I was going to actually respond, then you said this. Anyone who listens to the Bernank is obviously confused.
2% inflation while printing money... ummm yeah I don't know if you know how supply/demand works, but increasing the supply of dollars will decrease the value.
Banks/financial institutions are interconnected. That money flows to both of them and back and forth. Keep taking advice from the Fed Chairman because that's a reliable source... he was Mr. "There is no housing bubble." How did that work out for everyone?
I was going to actually respond, then you said this. Anyone who listens to the Bernank is obviously confused.
2% inflation while printing money... ummm yeah I don't know if you know how supply/demand works, but increasing the supply of dollars will decrease the value.
Banks/financial institutions are interconnected. That money flows to both of them and back and forth. Keep taking advice from the Fed Chairman because that's a reliable source... he was Mr. "There is no housing bubble." How did that work out for everyone?
Heresy was talking about investing in gold way back on the Jenny Jones show in 2002. Check out the price shift since that time: http://www.kitco.com/charts/popup/au3650nyb_.html
But since the world is ending 2012 I'd say it's pointless to invest in anything other than a fortified underground shelter, weapons, and enough canned goods and water to last you for a life time. Cash in any stocks/bonds or any savings you have and start buying survival gear. Also don't be afraid to max out your credit cards and take out as much loans you can get as your credit score won't matter when you are trying to survive the apocalypse.
And just to put this out there, Canada has hella water and other natural resources and we accept PayPal MSG me for info.
And just to put this out there, Canada has hella water and other natural resources and we accept PayPal MSG me for info.
The stock market shifts when Bernanke so much as sneezes in any direction. You have to follow what he says. They are also keeping interest rates low until 2014. They said that last year. No increases yet.
We aren't printing as much money as we used to. There are talks of QE3 but as of right now the economy seems to be on its way to recovery so they may not need to print as much. Plus you have to compare inflation to other countries. EU is in a recession. Japan is causing the yen to go down on purpose (increase exports). Asia in general is having their own form of "crash landing". The US dollar has been steadily gaining from its lows against other currencies. I agree with the Feds right now. Inflation will remain low. Unless they have QE3, which I dont think they will unless the stock market has a serious pull back.
We aren't printing as much money as we used to. There are talks of QE3 but as of right now the economy seems to be on its way to recovery so they may not need to print as much. Plus you have to compare inflation to other countries. EU is in a recession. Japan is causing the yen to go down on purpose (increase exports). Asia in general is having their own form of "crash landing". The US dollar has been steadily gaining from its lows against other currencies. I agree with the Feds right now. Inflation will remain low. Unless they have QE3, which I dont think they will unless the stock market has a serious pull back.